According to bitcoin.org, mining is referred to as 'the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together'.

First, I browsed the wiki to figure out how SN created the genesis block to earn bitcoin. It said he published the Bitcoin Core software, used it to create genesis block and was rewarded with 50 bitcoins.

According to bitcoin.org, how did he literally mine bitcoin, while at that moment there was no transaction between peers by bitcoins? Did SN verify any transaction when he created genesis block? I think it's a contradiction.

Besides… I want to know the reality of blockchain. People say it's a public ledger—so where can I see that public ledger, and check whether every transaction is recorded on every computer? Is there any website for that?

3 Answers 3


The blockchain is the shared journal of all transactions on the network. Mining is the process which authors new blocks to extend the blockchain. Miners do not need unconfirmed transactions to create a block, but they earn transaction fees from including them. The only transaction in a block that is required by the protocol is the coinbase transaction. (We refer to blocks that only have a coinbase transaction as empty blocks.) As the difficulty regulates the interval, mining acts as a distributed lottery to elect a block author about every ten minutes. As a reward for the expended work, the lucky miner collects the transaction fees of the included transactions and creates some new bitcoins for themselves. The long interval between blocks gives other network participants time to catch up to the new chaintip and converge on a shared truth.

First, I browsed the wiki to figure out how SN created the genesis block to earn bitcoin. It said he published the Bitcoin Core software, used it to create genesis block and was rewarded with 50 bitcoins.

The order of these events is mixed up. The Genesis Block was created before the Bitcoin software was published. Each block points at the previous block. Block 3 points at Block 2. Block 2 points at Block 1. Block 1 points at the Genesis Block. This forms the blockchain.

GB ⇐ 1 ⇐ 2 ⇐ … ⇐ 719935

The Genesis Block is special because there was no previous block. The Genesis Block was created to define the starting point of the network. The first release of Bitcoin included the Genesis Block to make all nodes agree on the starting point!

However, the Genesis Block includes the headline of a newspaper from that day. This proves that the Genesis Block couldn't have been created before the newspaper got published. Satoshi Nakamoto did not create any money for himself with the Genesis Block, because the output of the Genesis Block cannot be spent. Since the Genesis Block is hard-coded as the starting point (for the first block to have a previous block), every new node already knows about the Genesis Block, and they do not read the Genesis Block like other blocks. Because nodes do not read the Genesis Block normally, they don't notice the money the Genesis Block created. The first block that is new to Bitcoin nodes is Block 1. The first spendable money was created with Block 1, because the first transaction that nodes process is the transaction in Block 1.

Even empty blocks provide proof-of-work and secure the network.

Where can I see that public ledger?

You can acquire your own copy of the blockchain by running the Bitcoin software, or browse one of many blockchain explorer websites such as e.g. mempool.space, blockstream.info, or blockchair.com.

  • thank you very much sir can i ask more questions? Jan 22 at 19:20
  • If you have another question, please create a new topic: How to Ask
    – Murch
    Jan 22 at 19:27
  • Enlish is not my mother tounge and I am a newbie in this world. I think I understand the basic context. but still do not understand concretely. Could you explain about it in very easy vocabulary? 1. So what is empty block contributing to the network? 2. <before the client was published?> what is client? 3.<the original release failed to include that output in the set of spendable amounts> I really do not understand this part. thank you Jan 22 at 19:40
  • I've updated my answer to simplify the language.
    – Murch
    Jan 22 at 20:27
  • Thank you so much sir!!! I aprreciate your thesis ㅠㅠ thank you so much Jan 23 at 2:30

One block may contain one or more transactions, the only required is called "coinbase" and is the very first one. Coinbase's transaction pays the miner's reward (fee + subsidy), and is required.
If a block contains only a coinbase transaction, it's called an empty block, and it's totally fine.
There are plenty of sites where you can see all bitcoin's transactions in this “public ledger”, it's called block explorer. Here, you can see Bitcoin's genesis block, which only contains the newly minted coins.

  • Thank you sir Can I ask you more questions?? Jan 22 at 18:17

You can view transactions on https://blockstream.info/ - that is a public ledger and is visible to everyone. It is not encrypted...the transactions can be simple transfers of bitcoin from A to B (it can be more complex than that but will keep it simple for this question) and transactions can also reference storage of data on the blockchain.

  • thank you very much Jan 23 at 6:13
  • Please don't keep introducing irrelevant information about forks into your answers. This site is about Bitcoin only.
    – meshcollider
    Jan 23 at 9:35
  • me? I haven't mentioned forks... Jan 23 at 10:50
  • @코스모스: No, this answer previously had another paragraph that advertised altcoins.
    – Murch
    Jan 23 at 12:46

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